THE EVOLUTION OF STUDIES ON BUSINESS LOCATION FACTORS

Abstract

Entrepreneurship has been widely considered as the power that drives development and well-being in the regions it affects. As a result, local, regional and national institutions, as well as researches in different disciplines, have focused on finding and researching the factors leading to the installation of business on a certain location. Therefore, it seems well-timed to present a quantitative survey of the literature review of this field. The scope of this article is to present past and present research studies related to the business location factors (BLF) identifying the most important sub-topics, contributors and their geographical distribution, major outlets, main empirical methodologies employed, as well as the most frequently studied countries. The presentation and documentation of the existing literature review could be a valuable tool for policy makers in the regional and national level, as well as for active entrepreneurs and researchers engaged in relevant academic disciples. Policy makers could take advantage of the BLF to attract investments in regions seeking development while active entrepreneurs could realize the important role played by the factors affecting the location of their business in a specific place and researchers could trace and fill in potential research voids on this subject.